Income tax audit of professional

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Manthan Ravaya (Querist)
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07 December 2011 1)If a firm providing websites by subcontracting them to other firms whether it would be included in definition of Profession?
2)Can a firm show receipts from Subcontract and Receipts from Professional consultancy seperately for the purpose of I.T. Audit, as the limit for professional is 15 lacs and for business is 60 lacs?

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
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08 December 2011 Yes. The profession of an I.T.Engineer(Software Engineer) is covered under specified profession. Contract or subcontract does not affect the auditing condition u/s 44AB.The limit is 15 lac.

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